MDIV vs. CTAP

Last updated Jun 4, 2026

MDIV (First Trust Multi-Asset Diversified Income Index Fund) and CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) are both Diversified Portfolio funds. MDIV is passively managed, while CTAP is actively managed. At a 0.21 correlation, their price movements are largely independent. MDIV charges 0.73%/yr vs 0.10%/yr for CTAP.

Performance

MDIV vs. CTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Multi-Asset Diversified Income Index Fund (MDIV) and Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MDIV achieves a 7.68% return, which is significantly lower than CTAP's 21.95% return.

MDIV

• 1D: -0.65%
• 1M: 0.10%
• YTD: 7.68%
• 6M: 7.38%
• 1Y: 11.03%
• 3Y*: 11.41%
• 5Y*: 5.65%
• 10Y*: 4.66%

CTAP

• 1D: -0.32%
• 1M: -3.24%
• YTD: 21.95%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MDIV vs. CTAP - Yearly Performance Comparison

	2026 (YTD)	2025
MDIV First Trust Multi-Asset Diversified Income Index Fund	7.68%	0.23%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	21.95%	2.44%

Correlation

The correlation between MDIV and CTAP is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025	0.21

MDIV vs. CTAP - Sectors Allocation Comparison

Sectors	MDIV	CTAP
Financial Services	22.4%	49.3%
Real Estate	21.6%	-
Energy	17.6%	-
Utilities	9.6%	-
Consumer Defensive	8.0%	-
Communication Services	3.2%	-
Consumer Cyclical	3.2%	-
Healthcare	1.6%	-
Industrials	1.6%	-
Basic Materials	0.7%	-
Technology	-	-

Return for Risk

MDIV vs. CTAP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MDIV

MDIV Risk / Return Rank: 52
MDIV Sharpe Ratio Rank: 47
MDIV Sortino Ratio Rank: 49
MDIV Omega Ratio Rank: 45
MDIV Calmar Ratio Rank: 65
MDIV Martin Ratio Rank: 53

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MDIV vs. CTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Multi-Asset Diversified Income Index Fund (MDIV) and Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	MDIV	CTAP	Difference
Sharpe ratio: Return per unit of total volatility	1.65	—	—
Sortino ratio: Return per unit of downside risk	2.44	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	3.27	—	—
Martin ratio: Return relative to average drawdown	9.10	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MDIV	CTAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	2.50	-2.16

Drawdowns

MDIV vs. CTAP - Drawdown Comparison

The maximum MDIV drawdown since its inception was -48.50%, which is greater than CTAP's maximum drawdown of -9.02%. Use the drawdown chart below to compare losses from any high point for MDIV and CTAP.

Drawdown Indicators

	MDIV	CTAP	Difference
Max Drawdown Largest peak-to-trough decline	-48.50%	-9.02%	-39.48%
Max Drawdown (1Y) Largest decline over 1 year	-3.39%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-9.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.02%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-48.50%	—	—
Current Drawdown Current decline from peak	-1.14%	-4.47%	+3.33%
Average Drawdown Average peak-to-trough decline	-4.58%	-2.18%	-2.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.22%	—	—

Volatility

Volatility by Period

	MDIV	CTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.62%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.71%	23.94%	-17.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.93%	23.94%	-13.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.23%	23.94%	-8.71%

MDIV vs. CTAP - Expense Ratio Comparison

MDIV has a 0.73% expense ratio, which is higher than CTAP's 0.10% expense ratio.

Dividends

MDIV vs. CTAP - Dividend Comparison

MDIV's dividend yield for the trailing twelve months is around 6.39%, more than CTAP's 0.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	0.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MDIV First Trust Multi-Asset Diversified Income Index Fund	6.39%	6.51%	6.40%	6.08%	6.71%	5.30%	6.00%	5.90%	6.76%	6.04%	6.35%	7.38%

Frequently Asked Questions

Can I hold both MDIV and CTAP in my portfolio?

MDIV and CTAP have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MDIV or CTAP?

On fees, CTAP is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MDIV or CTAP?

CTAP is cheaper with a 0.10% expense ratio, compared with 0.73% for MDIV.

Which ETF pays a higher dividend yield, MDIV or CTAP?

MDIV has the higher dividend yield at 6.39%, compared with 0.65% for CTAP.

What is the main difference between MDIV and CTAP?

They also come from different issuers: First Trust and Simplify. Their fees differ too: 0.73% for MDIV and 0.10% for CTAP.